Industrial Flex Warehouse
For Sale
$1,195,000
18321 Mike C Court, Fraser, MI 48026
COMMERCIAL - Fraser, MI
Property Size16,000 SF
Lot Size1.00 Acre
Price / SF$74.69
Days on Market51
Property Features for 18321 Mike C Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Industrial
Lot features
Main Street
Subdivision
Fraser (50014)
Standard status
Active
APN
03-11-32-276-009
Size
16,000 SF
Lot size
1.00 Acre
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1983
Roof type
Flat
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Jun 18
Changed: Aug 4
Last Checked: Aug 7 at 12:06AM
MLS# 50211863
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a clean, functional industrial building configured as two separate 8,000 SF units. Both units feature street-facing loading, and the rear unit includes drive-through capability. The property totals 16,000 SF on a 1-acre lot and can be delivered 100% vacant, or positioned to generate income with short month-to-month tenancy currently in place. The seller is also open to leasing back a portion of the building for a clean use warehouse operation.
The building is located in the Fraser Industrial Park, positioned west of Groesbeck and south of 15 Mile. The park’s internal roadways are slated for replacement later this year, and Mike C is noted as newly replaced.
For tenants and buyers, the layout supports separate operational needs within the same building while maintaining street-level loading for practical receiving and distribution. The availability of either vacant delivery or continued month-to-month occupancy provides flexibility depending on whether an operator is looking to move in immediately or prefers to plan around existing tenancy. The offered lease-back option may also suit users seeking near-term occupancy while keeping a portion of the space operational.
The building is located in the Fraser Industrial Park, positioned west of Groesbeck and south of 15 Mile. The park’s internal roadways are slated for replacement later this year, and Mike C is noted as newly replaced.
For tenants and buyers, the layout supports separate operational needs within the same building while maintaining street-level loading for practical receiving and distribution. The availability of either vacant delivery or continued month-to-month occupancy provides flexibility depending on whether an operator is looking to move in immediately or prefers to plan around existing tenancy. The offered lease-back option may also suit users seeking near-term occupancy while keeping a portion of the space operational.
Key Highlights
- Industrial building in Fraser Industrial Park, west of Groesbeck and south of 15 Mile
- Two 8,000 SF units (total 16,000 SF) with street‑facing loading
- Back unit includes drive‑through capability
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,761
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,095,220
$2.1M
Cap Rate 7%
$1,496,586
$1.5M
Cap Rate 9%
$1,164,011
$1.2M
Market Conditions
NOI Build-Up for 16,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$130.6K $8.16/SF
− Vacancy
−$7.3K −$0.46/SF
EGI
$123.2K $7.70/SF
− OpEx
−$18.5K −$1.16/SF
NOI
$104.8K $6.55/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,095,220
Cap Rate 7%
$1,496,586
Cap Rate 9%
$1,164,011
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,761 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.00M
$2.62M – $3.49M
NOI $209,682 @ 7.0% cap · market cap 17.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48026, MI
14,726
Population
6,778
Households
2.2
Avg Household Size
44
Median Age
21%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
3,592
Density / Sq Mi
$61,118
Median Household Income
$40,198
Median Earnings
$827
Median Rent
$193,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Quick Fast Moving LLC — 17630 Sewel Ave, Fraser, MI 48026
- Baro Mini Storage LLC — 34464 Kelly Rd, Clinton Twp, MI 48035
- General Shredding — 17000 15 Mile Rd, Fraser, MI 48026
- Bulldog Records Management — 17000 15 Mile Rd, Fraser, MI 48026
- Extra Space Storage — 34244 Groesbeck Hwy, Clinton Twp, MI 48035
Frequently Asked Questions
What type of property is this?
Warehouse - Functional industrial building with two units, street-facing loading, and drive-through capability in the rear unit.
Where is this warehouse located?
The property is located at 18321 Mike C Court Fraser, MI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Industrial building in Fraser Industrial Park, west of Groesbeck and south of 15 Mile; Two 8,000 SF units (total 16,000 SF) with street‑facing loading; Back unit includes drive‑through capability
